A critical analysis by Markus Thielen of 10x Research suggests that Bitcoin could experience a significant decline if the key support level of $100,000 is breached. The prediction stems from an analysis of massive trading volume in the $100,000 to $126,000 range and the potential for panic selling among investors holding positions around this crucial threshold. 5.9 million BTC worth over half a trillion dollars traded within this range recently. Thielen’s analysis highlights two main groups of investors with potential sell pressure: retail investors who entered positions with weak conviction, and institutional investors facing internal pressure. These groups could collectively trigger a domino effect if prices break below their entry points. 10x Research describes this as a ‘liquidity void’ or ‘air pocket’ around the $93,000 mark. Thielen explains that breaking the support level will unleash selling pressure, accelerating prices towards $93,000. The concern is amplified by the potential for volatility to spike dramatically at the $90,000 level as this corresponds to a significant proportion of Bitcoin ETFs’ purchase price. As institutions holding ETF positions might see their holdings turn negative if prices drop below this threshold, triggering further selling pressure from risk-averse funds, impacting market stability. Thielen emphasizes that these predictions remain probabilistic and investors should be cautious against panic selling based on single analyses, but instead focus on building a diversified approach to protect themselves. While the prediction presents potential risks for Bitcoin’s price, staying informed about crucial support levels like $100,000 remains crucial for making sound investment decisions.